6 small changes to cut your costs

You can't avoid the fact that things are getting expensive.  It's important that you keep reviewing your expenses and cutting back on unnecessary spending.  Surprisingly there are many easy ways you can save.

1. Change your phone settings

Check your settings to make sure that data-chewing apps like email and Google Maps aren’t running all the time, especially when running on 3G or 4G. Connect to WiFi wherever you can. Look out for restaurants and areas that offer it for free. But never use public spaces, like cafes, for Internet banking, they are not secure.

2. Register for the habit breaker

When you’re buying one coffee before work, R17 probably seems like small change. It isn’t. Use the habit breaker and you’ll be amazed to find out how much your daily coffee habit actually costs every month (R340 to be exact). What’s great about the tool is that it also works out how much you could save if you put the cash into savings instead. Cutting out one cup of coffee a day and putting it into a Capitec Bank savings account could earn you R8 545 in just 2 years. A simple solution is bringing your own coffee to work.


3. Downgrade your satellite TV package 

There’s no better time than now to review your DStv subscription, because in April the company is raising the fee. You’ll be paying R40 more for the premium package (from R625 a month to R665). Unless you’re really watching all those channels, think about shifting down to a more affordable package. DStv Compact is about half the price, at R295, and there are other options that cost even less.

4. Pay back a little bit more on your loans

Even a small amount can make a huge difference in the long run. Credit is great; it helps you get things you would not otherwise afford, like a car or funding for a new business. It works even better if you pay it off quickly.

5. Review your car insurance premiums

When your insurance company sends you an email about increasing their premiums, don’t just accept it. Call them to discuss how you can shave rands off your monthly premium. If your circumstances have changed – for example, your car is now in secure overnight parking or you’ve moved to a different area – your premiums could be less. And if they won’t negotiate, shop around for an insurance company that will give you low fees.

6. Cut back on meat

Meat Free Mondays was started to encourage people to eat less meat to improve their health and the health of the planet.Cutting out meat at least once a week also slashes your grocery bill.Join Meat Free Mondays on Facebook to pick up lots of recipes made with more affordable (and healthier) food.

Source: Capitec